Intel has another great quarter thanks to "improved" PC market

Giant semi Intel announced their quarterly earnings last night, reporting another strong quarter thanks to an 'improved' PC market.

The company earned $2.8 billion on revenue of $13.8 billion and even raised their fiscal year revenue outlook. The company will buyback up to $20 billion in stock, which will increase the value of the company's share.

"This change in our capital structure is the continuation of a multi-year focus on creating value and returning cash to our shareholders, and reinforces our confidence in the business," CFO Stacy J. Smith said during the report.

Most impressively, gross margins remained flat at 66 percent and revenue for the upcoming quarter should improve to $14.4 billion.

Intel continues its foray into the mobile world and has set a lofty goal of powering 40 million tablets by the end of the year, despite missing out on the first three years, literally, of tablet growth enjoyed by Qualcomm and to a lesser extent, Nvidia. Intel powers both Windows and Android tablets.